FIN-TECH not sufficiently scalable or stable to meet the needs of the business going forward . When Loake arrived this was already understood by the business leadership , and a technology update was being discussed ; a process he quickly pointed out would be expensive and ultimately ineffective unless it was carried out as part of a root and branch business transformation . “ We needed to re-architect the business into a truly digital entity . We stand or fall by our relationship with the brokers – and ultimately their clients – and that relationship is delivered through our servers and our technology .”
Who is our customer ? The first task was to map the current technology estate . Like the curate ’ s egg , some of its parts were excellent but had not been utilised properly . Other parts had fundamental problems . However this mapping had to be done in conjunction with understanding what it was supposed to do . “ We are an intermediated business ,” Loake explains . “ 99 percent of our business is sold through insurance brokers . But we had an identity crisis : who are we ?” In the insurance sales process the end customer generally has only a limited understanding as to who
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